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Books on succeeding at business fill libraries. Different types of businesses have different operational needs and circumstances. Creative entrepreneurs and business leaders develop new and better ways to do business all the time, and some advice becomes outdated as times change. There's no one way to make a business succeed, but there are a number of fundamentals that give a company a fighting chance.

Finance

Businesses not only need enough money to launch, but enough to sustain themselves through good and bad times. A company with a promising and initially successful business concept can come crashing down if its owners and leaders don't manage money well. A successful company starts with enough capital to operate through an extended launch period, then produces cash flows sufficient for its continued operations and growth. Business leaders have to balance keeping up with debts, pleasing investors, sustaining employees, seizing opportunities and making a living.

Vision

Companies and the teams that comprise them need goals. A great organization doesn't just offer a product or service, but has direction and aspirations. Successful businesses aim to capture markets, innovate, serve, add value and grow. Vision can be as simple as being the hair salon of choice for a city's stylish trendsetters, or it can be as vast as growing from a small electronics company to an internationally renowned medical device manufacturer. To achieve vision, companies need leaders who know how to communicate and inspire their teams.

People

Great businesses need great people. Companies do best when their teams are dedicated and use the full extent of their talents. That means owners and managers need to hire well, take care of their employees and support them. Managing people is a complicated endeavor, and methodology varies by industry, business, setting and situation. However, in all situations, managers must strive to create a sense of ownership and investment among employees.

Problem Solving

Problems and challenges will come along. Successful owners and leaders have to think critically, develop strategies and derive solutions to various obstacles. Problem solving ranges from crisis management to long-term planning aimed at heading off foreseeable issues. Because no leader can know it all, managers frequently hire consultants and experts to bring in needed advice. Additionally, hiring management teams and employees with diverse experiences, educations and approaches can help build a knowledge base within a business, so teams are capable of collaborating and overcoming issues using internal resources.

About the Author

Eric Feigenbaum started his career in print journalism, becoming editor-in-chief of "The Daily" of the University of Washington during college and afterward working at two major newspapers. He later did many print and Web projects including re-brandings for major companies and catalog production.